Comcast Buys DreamWorks

On Thursday, Comcast (CMSA) said to the media that they would be purchasing DreamWorks for $3.8 billion. This means that DreamWorks shareholders will receive $41 in cash per share of stock. The deal is reminiscent compared to Disney’s 2006 acquisition of Pixar for $7.4 billion. Comcast said DreamWorks, ” will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBC Universal Brand Development. This also means that CEO Jeffrey Katzenberg will give up his leadership role which a lot of people were hoping that he would have stepped down sooner. He will still be involved with the ownership interests in two digital ventures: Awesomenewss TV and NOVA which are expanding this year. With DreamWorks determined to hang on compared it’s competitors like Disney, we can hope the company will be on the right track in the near future.